Today, National Interstate Corp. (NATL) Downgraded by Zacks Investment Research

Today, National Interstate Corp. (NATL) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of National Interstate Corp. (NASDAQ:NATL) from a strong-buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “National Interstate Corporation is a specialty property and casualty insurance company with a niche orientation and focus on the transportation industry. Their core products include property and casualty insurance for transportation companies, group captive insurance programs for transportation companies that they refer to as their alternative risk transfer operations, specialty personal lines, primarily, recreational vehicle coverage and general commercial insurance in Hawaii. “

Shares of National Interstate Corp. (NASDAQ:NATL) opened at 32.42 on Tuesday. The firm has a market cap of $646.03 million, a PE ratio of 28.07 and a beta of 1.07. The firm’s 50-day moving average price is $32.50 and its 200-day moving average price is $31.40. National Interstate Corp. has a one year low of $21.15 and a one year high of $34.49.

National Interstate Corp. (NASDAQ:NATL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.11. National Interstate Corp. had a return on equity of 7.63% and a net margin of 3.57%. Equities research analysts expect that National Interstate Corp. will post $1.85 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of National Interstate Corp. by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,248 shares of the company’s stock valued at $674,000 after buying an additional 294 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of National Interstate Corp. during the second quarter valued at about $161,000. Highbridge Capital Management LLC acquired a new position in shares of National Interstate Corp. during the second quarter valued at about $8,798,000. CNH Partners LLC increased its position in shares of National Interstate Corp. by 8.1% in the second quarter. CNH Partners LLC now owns 62,591 shares of the company’s stock valued at $1,893,000 after buying an additional 4,682 shares in the last quarter. Finally, State Street Corp increased its position in shares of National Interstate Corp. by 1.7% in the second quarter. State Street Corp now owns 112,619 shares of the company’s stock valued at $3,407,000 after buying an additional 1,919 shares in the last quarter. Institutional investors and hedge funds own 85.55% of the company’s stock.

National Interstate Corp. Company Profile

National Interstate Corporation and its subsidiaries operate as an insurance holding company that underwrites and sells traditional and alternative property and casualty insurance products to the passenger transportation, trucking and moving and storage industries, general commercial insurance to small businesses in Hawaii and Alaska and personal insurance to owners of recreational vehicles throughout the United States.

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